Today, Stifel Nicolaus Increases Veeva Systems Inc. (VEEV) Price Target to $48.00

Today, Stifel Nicolaus Increases Veeva Systems Inc. (VEEV) Price Target to $48.00

Veeva Systems Inc. (NYSE:VEEV) had its target price lifted by Stifel Nicolaus from $45.00 to $48.00 in a report released on Wednesday morning. Stifel Nicolaus currently has a buy rating on the stock.

A number of other equities analysts have also commented on the company. Citigroup Inc. increased their price target on Veeva Systems from $31.00 to $40.00 and gave the company a neutral rating in a research note on Tuesday, August 23rd. Canaccord Genuity reissued a hold rating and set a $43.00 price target (up from $35.00) on shares of Veeva Systems in a research note on Monday, August 29th. Bank of America Corp. reissued a hold rating and set a $44.00 price target on shares of Veeva Systems in a research note on Friday, September 30th. Needham & Company LLC reissued a buy rating and set a $46.00 price target on shares of Veeva Systems in a research note on Saturday, October 15th. Finally, Raymond James Financial Inc. began coverage on Veeva Systems in a research note on Wednesday, August 24th. They set a market perform rating for the company. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $43.57.

Shares of Veeva Systems (NYSE:VEEV) opened at 46.34 on Wednesday. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 121.95 and a beta of 1.60. Veeva Systems has a 12 month low of $19.97 and a 12 month high of $46.98. The stock has a 50 day moving average price of $39.68 and a 200-day moving average price of $37.51.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Tuesday, November 22nd. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm earned $142.80 million during the quarter, compared to analyst estimates of $135.67 million. Veeva Systems had a return on equity of 12.84% and a net margin of 12.73%. The business’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 earnings per share. Analysts expect that Veeva Systems will post $0.63 earnings per share for the current fiscal year.

In other Veeva Systems news, insider Eleni Nitsa Zuppas sold 937 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $40.50, for a total transaction of $37,948.50. Following the transaction, the insider now directly owns 8,321 shares in the company, valued at approximately $337,000.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan Mateo sold 44,177 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $40.55, for a total value of $1,791,377.35. Following the transaction, the executive vice president now owns 5,805 shares in the company, valued at $235,392.75. The disclosure for this sale can be found here. 19.17% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank purchased a new position in Veeva Systems during the second quarter valued at approximately $101,000. FineMark National Bank & Trust increased its position in Veeva Systems by 12.7% in the second quarter. FineMark National Bank & Trust now owns 3,060 shares of the company’s stock valued at $104,000 after buying an additional 346 shares during the last quarter. Advisor Group Inc. increased its position in Veeva Systems by 105.2% in the third quarter. Advisor Group Inc. now owns 2,772 shares of the company’s stock valued at $115,000 after buying an additional 1,421 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Veeva Systems by 22.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,402 shares of the company’s stock valued at $140,000 after buying an additional 625 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Veeva Systems during the third quarter valued at approximately $156,000. Institutional investors own 69.20% of the company’s stock.

Veeva Systems Company Profile

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